Heartland Advisors Inc. Invests $4 Million in Wabash National Corporation $WNC

Key Points

• Heartland Advisors initiated a $4 million position in Wabash National during the second quarter, buying 296,400 shares and acquiring a 0.73% stake. Institutional investors collectively own 97.05% of the company.
• Analyst sentiment is mixed: two analysts rate Wabash National a Buy, while others rate it Hold or Sell. The consensus rating is Hold, with an average price target of $21.67 versus the reported share price of $12.04.
• Wabash National exceeded quarterly loss and revenue expectations, reporting an adjusted loss of $0.53 per share on $417.24 million in revenue, though revenue declined 9.1% year over year. The company also announced a quarterly dividend of $0.08 per share, representing a 2.7% yield.

Heartland Advisors Inc. purchased a new position in shares of Wabash National Corporation (NYSE:WNC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 296,400 shares of the company's stock, valued at approximately $4,001,000. Heartland Advisors Inc. owned 0.73% of Wabash National at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Wabash National in the second quarter worth about $45,000. BlackRock Inc. bought a new position in shares of Wabash National during the second quarter valued at approximately $47,125,000. Deutsche Bank AG purchased a new stake in shares of Wabash National in the second quarter worth approximately $537,000. Bank of New York Mellon Corp purchased a new stake in shares of Wabash National in the second quarter worth approximately $6,151,000. Finally, Bank of America Corp DE lifted its stake in shares of Wabash National by 39.6% during the 1st quarter. Bank of America Corp DE now owns 220,248 shares of the company's stock worth $1,899,000 after acquiring an additional 62,519 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WNC shares. Citizens Jmp initiated coverage on Wabash National in a report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price objective for the company. Wall Street Zen upgraded Wabash National from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. DA Davidson reiterated a "buy" rating and set a $20.00 target price on shares of Wabash National in a research report on Wednesday, July 22nd. National Bank Financial set a $20.00 price target on shares of Wabash National in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wabash National in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.67.

Wabash National Trading Up 3.2%

Shares of NYSE WNC opened at $12.04 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. The business has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $10.24. The firm has a market cap of $490.51 million, a PE ratio of -6.24 and a beta of 1.44. Wabash National Corporation has a twelve month low of $6.63 and a twelve month high of $14.32.

Wabash National (NYSE:WNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.03. The business had revenue of $417.24 million for the quarter, compared to the consensus estimate of $402.85 million. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) EPS. Analysts expect that Wabash National Corporation will post -2.41 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, October 8th. Wabash National's dividend payout ratio is presently -16.58%.

About Wabash National

Wabash National Corporation NYSE: WNC is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company's product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.

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